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House Prices in NR23

The average house price in NR23 (Wells-Next-The-Sea) is £474,500 using HM Land Registry data.

The average property price increased by £65,832 (30.96%) over the last 5 years and increased by £13,190 (4.52%) over the last 12 months.

Over the last year, there were 42 residential property sales – a decrease of 0 transactions (0.00%) relative to the previous year. The majority of house sales (11) were in the £320,000 - £410,000 range. Then came properties in the £410,000 - £500,000 range, where 10 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 251 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-14,431 (-2%).

In March 2025, there were 4 new estate agency instructions, 7 agreed home sales and 4 property price reductions.

5-Year Average Property Prices in NR23 (Wells-Next-The-Sea)

30.96%

Property prices in NR23 (Wells-Next-The-Sea) increased by 30.96% in last 5 years.

The trend shows the general price tendency over the last 5 years, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Average Property Prices in NR23 (Wells-Next-The-Sea) Over the Last Year

4.52%

Property prices in NR23 (Wells-Next-The-Sea) increased by 4.52% in last 12 months.

The trend shows the general price tendency over the last 12 months, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

Property Market Heat Gauge for NR23 (Wells-Next-The-Sea) - March 2025

Our Property Market Heat Gauge looks at how long properties in your postcode district have been on the open market before being changed to sold 'Subject to Contract' ('STC') or 'Under Offer' on Rightmove (the UK's leading property portal).

At 81 to 100 days, the broad evidence suggests a very slow moving market. This can often be due to estate agency over-valuations out of sync with the realities, a notable market slowdown or a combination of both. In such scenarios, vendors may either choose to wait for the market to pick up (which may result in relisting the property at a later date). Those committed to selling will often need to drop the price to a level that will entice genuine homebuyer interest or approach a sell house fast or auction company like Property Solvers.

Please note that this is not an indicator of how quickly property sales are taking to complete (i.e. to go through the whole conveyancing process). This measurement also does not take into account the risk of home sales falling through.

No. of New Instructions Over the Last 12 Months in NR23 (Wells-Next-The-Sea)

Using local estate agency reported data, this chart illustrates the number of properties that have come on to the market.

No. of Agreed Home Sales Over the Last 12 Months in NR23 (Wells-Next-The-Sea)

Using local estate agency reported data, this chart illustrates the number of property sales agreed. Note that these figures are not fully reflective of properties completed (sold and registered as such at HM Land Registry).

No. of Properties with Price Reductions in NR23 (Wells-Next-The-Sea)

Using local estate agency reported data, this chart illustrates the number of properties which have been seen their prices dropped (typically due to a lack of buyer interest).

Average Annual House Prices in the NR23 (Wells-Next-The-Sea) Postcode since 1995

Using HM Land Registry data, this chart displays average annual house prices in the NR23 postcode area since 1995.

Recent Sales in NR23 (Wells-Next-The-Sea)

Address	Initial Price	Sold Price	Price Change	First Listed Date	Sold Date	Days to Sell
2 Manor Farm Drive, Wells-next-the-sea, Norfolk, NR23 1FB	£650,000	£635,000	-£15,000	05 Sep 2024	30 Jan 2025	147 Days
17 - 19, Church Plain, Wells-next-the-sea, Norfolk, NR23 1EQ	£399,950	£370,000	-£29,950	31 May 2024	10 Jan 2025	224 Days
Meadowside, Two Furlong Hill, Wells-next-the-sea, Norfolk, NR23 1HQ	£600,000	£550,000	-£50,000	16 Sep 2024	19 Dec 2024	94 Days
Star Cottage, Star Yard, Wells-next-the-sea, Norfolk, NR23 1AP	£500,000	£450,000	-£50,000	07 Nov 2022	16 Dec 2024	770 Days
Tinkers Cottage, Bolts Close, Wells-next-the-sea, Norfolk, NR23 1JP	£420,000	£395,000	-£25,000	25 Jun 2024	24 Oct 2024	121 Days
23 Mainsail Yard, Wells-next-the-sea, Norfolk, NR23 1FD	£625,000	£600,000	-£25,000	24 Jun 2024	18 Oct 2024	116 Days
Northfield Lodge, Standard Road, Wells-next-the-sea, Norfolk, NR23 1EB	£650,000	£637,500	-£12,500	13 May 2024	08 Oct 2024	148 Days
19 High Street, Wells-next-the-sea, Norfolk, NR23 1EW	£575,000	£563,000	-£12,000	29 Aug 2024	04 Oct 2024	36 Days
8 Neilsen Close, Wells-next-the-sea, Norfolk, NR23 1LU	£270,000	£260,000	-£10,000	06 Jun 2024	13 Sep 2024	99 Days
31 Neilsen Close, Wells-next-the-sea, Norfolk, NR23 1LU	£299,950	£290,000	-£9,950	04 Oct 2023	29 May 2024	238 Days
The Cottage, Stearmans Yard, Wells-next-the-sea, Norfolk, NR23 1BW	£400,000	£375,000	-£25,000	19 Jul 2023	24 May 2024	310 Days
15 Knitting Needle Lane, Wells-next-the-sea, Norfolk, NR23 1LN	£200,000	£177,500	-£22,500	04 Jan 2024	01 May 2024	118 Days
61 Waveney Close, Wells-next-the-sea, Norfolk, NR23 1HU	£425,000	£425,000	£0	18 Dec 2023	28 Feb 2024	72 Days
The White House, Chapel Street, Warham, Wells-next-the-sea, Norfolk, NR23 1NN	£3,000,000	£3,000,000	£0	22 Jun 2023	16 Feb 2024	239 Days
4 Grove Road, Wells-next-the-sea, Norfolk, NR23 1HY	£475,000	£460,000	-£15,000	13 Sep 2023	20 Dec 2023	98 Days
14 Church Street, Wells-next-the-sea, Norfolk, NR23 1JA	£425,000	£425,000	£0	24 Aug 2023	20 Dec 2023	118 Days
11 The Glebe, Wells-next-the-sea, Norfolk, NR23 1AZ	£349,995	£340,000	-£9,995	15 May 2023	02 Nov 2023	171 Days
12 Mill Road, Wells-next-the-sea, Norfolk, NR23 1HB	£460,000	£450,000	-£10,000	25 Jul 2023	12 Oct 2023	79 Days
8 Mill Road, Wells-next-the-sea, Norfolk, NR23 1HA	£465,000	£448,000	-£17,000	02 Jun 2023	01 Sep 2023	91 Days
22 Chapel Yard, Wells-next-the-sea, Norfolk, NR23 1BJ	£499,950	£487,206	-£12,744	25 May 2023	31 Aug 2023	98 Days

Most Expensive Streets in NR23 (Wells-Next-The-Sea)

Postcode	Street	Area	Average	No. of Sales
NR23 1QU	Chalk Hill Farm Barns, Binham Road	Wells-Next-The-Sea	£922,333	3
NR23 1LE	East End, Wells-next-the-sea	Wells-Next-The-Sea	£907,500	4
NR23 1PX	Home Piece Road, Wells-next-the-sea	Wells-Next-The-Sea	£699,374	4
NR23 1QP	Bridge Street, Stiffkey	Wells-Next-The-Sea	£686,250	4
NR23 1JT	The Granary, The Quay	Wells-Next-The-Sea	£656,666	3
NR23 1BE	Dogger Lane, Wells-next-the-sea	Wells-Next-The-Sea	£655,333	3
NR23 1AJ	Wells Road, Stiffkey	Wells-Next-The-Sea	£651,111	9
NR23 1HQ	Two Furlong Hill, Wells-next-the-sea	Wells-Next-The-Sea	£596,625	4
NR23 1DB	Mill Road, Wells-next-the-sea	Wells-Next-The-Sea	£586,666	3
NR23 1LA	Jolly Sailor Yard, Wells-next-the-sea	Wells-Next-The-Sea	£585,277	4

Least Expensive Streets in NR23 (Wells-Next-The-Sea)

Postcode	Street	Area	Average	No. of Sales
NR23 1BY	Westfield Avenue, Wells-next-the-sea	Wells-Next-The-Sea	£224,166	3
NR23 1LU	Neilsen Close, Wells-next-the-sea	Wells-Next-The-Sea	£226,666	3
NR23 1DF	Tunns Yard, Wells-next-the-sea	Wells-Next-The-Sea	£227,966	3
NR23 1LQ	Northfield Lane, Wells-next-the-sea	Wells-Next-The-Sea	£264,000	5
NR23 1LJ	Northfield Waye, Wells-next-the-sea	Wells-Next-The-Sea	£282,125	6
NR23 1QL	Camping Hill, Stiffkey	Wells-Next-The-Sea	£287,400	5
NR23 1DS	Theatre Road, Wells-next-the-sea	Wells-Next-The-Sea	£368,333	3
NR23 1HU	Waveney Close, Wells-next-the-sea	Wells-Next-The-Sea	£372,000	5
NR23 1QG	Ashburton Close, Wells-next-the-sea	Wells-Next-The-Sea	£378,395	21
NR23 1AZ	The Glebe, Wells-next-the-sea	Wells-Next-The-Sea	£424,375	4